Citi sees little risk to chip companies' 2Q10 consensus estimates. Analysts said, "While orders may have slowed
early in the quarter, lead times are sufficiently long to minimize any 2Q10 impact."
According to Citi, these chip company are most likely to beat estimates:
Advanced Micro Devices AMD
Broadcom BRCM
Infineon Tech IFNNY
STMicroelectronics STM
Xilinx XLNX
Inline:
Altera ALTR
Cypress Semiconductor CY
Integrated Device Technology IDTI
Intel INTC
Texas Instruments TXN
At risk:
QUALCOMM QCOM
Citi's other top call involved raising the rating of Ameriprise Financial AMP to Buy while maintaining a $50 price target. Citi increased their 2010E-12E EPS to $3.60, $4.65, and $5.45 respectively. Analysts are confident that AMP will successfully integrate its recent acquisition of Columbia Asset Management.
Citi analysts said, "Columbia has made AMP’s earnings base increasingly tied to the higher multiple, faster growing Wealth and Asset Management divisions and less so by slower growing and less profitable traditional insurance and annuity products. This transition should support a steadily improving share valuation."
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Posted In: Analyst ColorPre-Market OutlookIntraday UpdateAnalyst RatingsAsset Management & Custody BanksCitiCommunications EquipmentFinancialsInformation TechnologySemiconductors
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